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Jun 30, 2023
Altus Power Q2 2023 Earnings Report
Achieved record revenue and adjusted EBITDA, driven by increasing construction output and strategic asset acquisitions.
Key Takeaways
Altus Power reported a strong second quarter of 2023, marked by record revenue of $46.5 million and adjusted EBITDA of $30.6 million. The company's growth was fueled by increased construction output and strategic asset acquisitions, positioning it as the largest owner of commercial solar arrays in the country.
Second quarter revenue reached $46.5 million.
GAAP net income was $3.4 million for the second quarter.
Adjusted EBITDA totaled $30.6 million for the second quarter.
The company reaffirmed its 2023 adjusted EBITDA guidance in the range of $97-103 million.
Forward Guidance
Altus Power reaffirmed 2023 adjusted EBITDA in the range of $97-103 million, representing 70% growth over 2022 at the midpoint. The Company also continues to expect 2023 adjusted EBITDA margin to be in the mid-to-high fifty percent range.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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